This compound is primarily used in organic synthesis, particularly in cross-coupling reactions like the Suzuki-Miyaura reaction. It serves as a key intermediate for constructing complex molecules, especially in the development of pharmaceuticals and agrochemicals. Its boronic ester group facilitates the formation of carbon-carbon bonds, making it valuable in creating biologically active compounds. Additionally, it is utilized in material science for synthesizing organic electronic materials, such as conductive polymers or organic semiconductors, due to its thiophene backbone, which is known for its electronic properties.